THEROFTALMO: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
THEROFTALMO
Largest movements
- Tangible fixed assets +€54,027
up €54,027 (+25.0%), from €215,913 to €269,940
of which Land and buildings: +€73,868
- Receivables within one year +€17,348
up €17,348 (+353.2%), from €4,911 to €22,259
- Cash -€14,005
down €14,005 (-7.3%), from €190,738 to €176,733
mainly Contributions, distributions and other (-€97,179) and Investment in fixed assets (net) (-€82,763)
- Other debts +€68,161
up €68,161 (+25.3%), from €269,238 to €337,399
- Current portion of long-term debt -€13,091
down €13,091 (-100.0%), from €13,091 to €0
- Gross operating margin -€112,771
down €112,771 (-42.3%), from €266,514 to €153,743
- Taxes -€27,183
down €27,183 (-51.9%), from €52,351 to €25,168
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €417,330 | €472,478 | +€55,148 | +13.2% |
| Fixed assets | 21/28 | €215,913 | €269,940 | +€54,027 | +25.0% |
| Tangible fixed assets | 22/27 | €215,913 | €269,940 | +€54,027 | +25.0% |
| Land and buildings | 22 | €164,576 | €238,444 | +€73,868 | +44.9% |
| Plant, machinery and equipment | 23 | €46,137 | €26,296 | -€19,841 | -43.0% |
| Other tangible fixed assets | 26 | €5,200 | €5,200 | = | 0.0% |
| Current assets | 29/58 | €201,417 | €202,538 | +€1,121 | +0.6% |
| Amounts receivable within one year | 40/41 | €4,911 | €22,259 | +€17,348 | +353.2% |
| Other amounts receivable | 41 | €4,911 | €22,259 | +€17,348 | +353.2% |
| Cash at bank and in hand | 54/58 | €190,738 | €176,733 | -€14,005 | -7.3% |
| Deferred charges and accrued income | 490/1 | €5,768 | €3,546 | -€2,222 | -38.5% |
| Total equity and liabilities | 10/49 | €417,330 | €472,478 | +€55,148 | +13.2% |
| Equity | 10/15 | €118,167 | €118,167 | = | 0.0% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €115,667 | €115,667 | = | 0.0% |
| Distributable reserves | 133 | €115,667 | €115,667 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €299,163 | €354,311 | +€55,148 | +18.4% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €298,492 | €353,496 | +€55,004 | +18.4% |
| Current portion of amounts payable after more than one year | 42 | €13,091 | €0 | -€13,091 | -100.0% |
| Trade debts | 44 | €8,349 | €8,746 | +€397 | +4.8% |
| Suppliers | 440/4 | €8,349 | €8,746 | +€397 | +4.8% |
| Taxes, remuneration and social security | 45 | €7,814 | €7,351 | -€463 | -5.9% |
| Taxes | 450/3 | €7,814 | €7,351 | -€463 | -5.9% |
| Other amounts payable | 47/48 | €269,238 | €337,399 | +€68,161 | +25.3% |
| Accrued charges and deferred income | 492/3 | €671 | €815 | +€144 | +21.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,224 | €28,736 | -€1,488 | -4.9% |
| Other operating charges | 640/8 | €2,455 | €2,369 | -€86 | -3.5% |
| Gross operating margin | 9900 | €266,514 | €153,743 | -€112,771 | -42.3% |
| Operating profit (loss) | 9901 | €233,835 | €122,637 | -€111,197 | -47.6% |
| Financial income | 75/76B | €1 | €0 | -€1 | -100.0% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -100.0% |
| Financial charges | 65/66B | €1,514 | €290 | -€1,224 | -80.8% |
| Recurring financial charges | 65 | €1,514 | €290 | -€1,224 | -80.8% |
| Profit (loss) for the period before taxes | 9903 | €232,321 | €122,347 | -€109,974 | -47.3% |
| Income taxes | 67/77 | €52,351 | €25,168 | -€27,183 | -51.9% |
| Profit (loss) for the period | 9904 | €179,970 | €97,179 | -€82,792 | -46.0% |
| Profit (loss) for the period to be appropriated | 9905 | €179,970 | €97,179 | -€82,792 | -46.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.